Do higher wages make you work harder? Do lower wages make you slack off? - By Ray Fisman - Slate Magazine

Do higher wages make you work harder? Do lower wages make you slack off? - By Ray Fisman - Slate Magazine: "A more subtle 'behavioral' explanation for a link between pay and effort was proposed by Nobel Prize-winner George Akerlof, who argued in a 1982 article that if employees were paid above the going rate, they'd reciprocate by working hard—a money-for-effort 'gift exchange.' Pay them less, and they'll reciprocate with less work."